Auction set for Gordy’s assets

The company that owns and operates Gordy’s grocery stores is going through corporate bankruptcy and is closing more stores in a restructuring effort. The company also faces a multimillon-dollar lawsuit. – Photo by Danielle Danford

Danielle Danford | Staff writer

SHELL LAKE – Documents filed in Chippewa County Court state Gordy’s Market stores and assets are scheduled to be auctioned off later this month, according to the LeaderTelegram.

The documents show the auction will take place at the Milwaukee Athletic Club on Monday, Sept. 25.

The auction news is another step in the receivership process, a type of corporate bankruptcy, that was initiated Aug. 23. In a receivership the debtors, in this case Gordy’s, are not allowed to transfer or dispose of any assets without the appointed receiver’s prior written consent.

Last week, a mass layoff notice filed with the Department of Workforce Development indicated that if suitable buyers aren’t found for the 26-location chain grocer 1,008 people would be laid off, including employees at the Shell Lake store